Russell A. Stamets | Contributing Editor
Russell A. Stamets is a contributing editor of the FCPA Blog.
He was the first non-Indian general counsel of a publicly traded Indian company and was general counsel for a satellite broadcasting joint venture of a large Indian business house.
He holds an LLB from Bangalore University, a Master of Business Laws from the National Law School of India University and a J.D. from Indiana University.
Russ previously practiced in East Asia for several years with a major international law firm.
He currently advises foreign companies on doing business in South and Southeast Asia and counsels Asian companies on compliance issues and investments abroad, including FCPA investigations and related matters, competition law, dispute resolution and foreign direct investment in the region.
Russell Stamets: India Cancels Corruption
Like the miasma of foul air and failed policies that choked New Delhi and closed schools last week, the Indian government’s sudden declaration that more than 80 percent of its circulating currency is invalid left many across the country stung and choked.
Supply Chain Woes: Did Welspun pull a bait and switch on Target, Walmart, and others?
Sometimes your supply chain will deliver an old-fashioned, pre-database, non-FCPA related integrity issue: the old bait and switch.
India’s New Bankruptcy Code: Will anyone risk their neck to give a haircut?
India’s new bankruptcy code is a promising development in a jurisdiction where it is difficult to start a business and a nightmare to shut it down.
Mr. Modi comes to Washington, bringing a mixed anti-corruption record
Many executives in India would agree that high-level political corruption in India has decreased significantly during the first two years of Prime Minister Narendra Modi’s regime, a welcome development by any measure.
Bain Capital sues EY for faulty India accounting
EY (the erstwhile Ernst & Young) is expected to pay Bain Capital about $35 million to settle claims that EY aided accounting fraud by an Indian clothing manufacturer in which Bain had invested.
Panama Papers: 500 Indians, with a dash of Bollywood glamour
Aishwarya Rai Bachchan, Bollywood actress and former Miss WorldA famous Bollywood actor. His daughter in law, a former Miss World. One of India’s top lawyers. Politically connected “industrialists.” For a country with 1.2 billion people, the 500 or so Indian nationals disclosed so far in the Panama Papers are hardly a blip, and few of the names a surprise.
Compliance alert: India Supremes say private bankers are ‘public servants’
The Indian Supreme Court has expanded the definition of public servant in a decision that has implications for not only the banking system but potentially the country’s broader struggle against corruption.
It’s a wrap! ‘Mufflerman’ returns for a sequel
One of India’s major anti-corruption figures has staged a spectacular return to power in New Delhi local elections, just eight months after abandoning office following his first electoral victory.
Democratic change is awesome – unless, of course, you’re corrupt
PM Singh (right) congratulates Narendra Modi after Modi’s election victoryRegime changes are always delicate moments in countries facing corruption problems. When the sea of power recedes the low tide often exposes relationships and decisions that many had hoped would never surface. What will the new regime do with the revealed detritus of prior “understandings?” Will there be “professional courtesy” or will the long knives come out?
Dear Compliance Officer: About 1.2 billion people are about to land on your desk
Image courtesy of the BBC via YouTubeIndian general election results will be announced May 16 and are likely to have far-reaching implications for the course of the Indian economy. Why pay attention to the elections in India, the largest vote mounted in human history? After all, India’s not even in the same hemisphere as the United States, as one observer said on TV.